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Post by Deleted on Jan 16, 2022 22:11:02 GMT -5
Bloomberg TV : Sands China UP 16%, other Macau Casino stocks UP following Fridays news
Chinas Econpmic growth was UP about 1.7% the estimate was 3.4% (Economic Growth Weakened) PBOC lowers rate by 0.1% on the economic news.
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Post by Blitz on Jan 17, 2022 12:32:19 GMT -5
Sands China soars again in Hong Kong while Goldman Sachs dials up the conviction on parent Las Vegas Sands Jan. 17, 2022 By: Clark Schultz, SA News Editor seekingalpha.com/news/3788509-sands-china-soars-again-in-hong-kong-while-goldman-sachs-dials-up-the-conviction-on-parent-las-vegas-sandsSands China Ltd (OTCPK:SCHYY) jumped another 14% in Monday trading in Hong Kong to follow on Friday's big jump of more than 20%. Investors have warmed up to Macau casino stocks after a release of a gaming law report removed an overhang of any major revisions. Macau plans to grant six casino licenses in the region with a duration of 10 years and an option for a three-year extension. Significantly, there was not an increase in tax proposed above the current 40% rate and no restrictions on dividends to shareholders. The U.S. market is closed today, but Las Vegas Sands (NYSE:LVS) could be setting up for another strong day tomorrow. Goldman Sachs upgraded LVS to a Conviction Buy rating after having the casino stock set at Buy. The firm's price target of $66 reps more than 50% upside for the casino stock and is right at the 52-week high. Just ahead for the Macau sector is the key Chinese New Year. Tight restrictions are anticipated in Macau with the focus on controlling COVID ahead of the Winter Olympics in Beijing considered a national priority. The games end on February 20, which some analysts think marks when rules around travel will be loosened. Sector watch: Macau, New York and valuations make the casino sector a tricky bet. |
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Post by Deleted on Jan 17, 2022 17:03:42 GMT -5
Sands China is UP 34% in 2 days thats massive, apparently the uncertainty of the new Macau gaming rules being eased is worth at least 34% of the stock price!
Another 15% inccrease or more in LVS's stock price tomorrow would be nice however one slight blimp after the stock price run up will probably reduce the stock gains 50% or more.
I don't expect the stock price to hold unless there are signs of Macau visitations increasing substantially in the next month.
JP Morgan last week and now Goldman have price targets of $66 on LVS while last week B of A downgraded LVS with a stock price of $46.
JP Morgan struck gold on its LVS Upgrade last week, was that luck or did they know something, as B of A downgraded LVS at the worse possible time.
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